ON (NYSE:ONON) Stock Price Expected to Rise, Williams Trading Analyst Says

ON (NYSE:ONON) had its target price lifted by investment analysts at Williams Trading from $60.00 to $62.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Williams Trading’s target price indicates a potential upside of 22.24% from the stock’s previous close.

Several other brokerages have also commented on ONON. Morgan Stanley upped their price target on ON from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group cut shares of ON from a “buy” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research report on Wednesday, February 12th. Citigroup began coverage on shares of ON in a research report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $64.00 target price on shares of ON in a report on Tuesday. Finally, Raymond James raised ON from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $58.00 to $63.00 in a research report on Thursday, November 21st. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ON presently has an average rating of “Moderate Buy” and a consensus price target of $59.82.

ON Stock Performance

NYSE ONON traded up $2.87 during trading hours on Tuesday, hitting $50.72. 11,172,139 shares of the company’s stock were exchanged, compared to its average volume of 4,557,887. The firm has a market capitalization of $31.94 billion, a P/E ratio of 117.96, a price-to-earnings-growth ratio of 1.02 and a beta of 2.30. The business’s 50 day moving average is $55.40 and its 200-day moving average is $52.44. ON has a 12-month low of $27.37 and a 12-month high of $64.05.

ON (NYSE:ONON) last released its earnings results on Tuesday, March 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. ON had a net margin of 5.87% and a return on equity of 10.69%. As a group, equities research analysts anticipate that ON will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On ON

Several institutional investors and hedge funds have recently bought and sold shares of the business. Park Square Financial Group LLC acquired a new stake in ON in the fourth quarter worth $32,000. Azzad Asset Management Inc. ADV boosted its stake in ON by 0.4% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 146,393 shares of the company’s stock valued at $8,018,000 after purchasing an additional 608 shares during the period. Bernard Wealth Management Corp. bought a new position in ON in the 4th quarter worth about $44,000. B. Riley Wealth Advisors Inc. increased its stake in shares of ON by 9.8% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 8,105 shares of the company’s stock valued at $444,000 after purchasing an additional 726 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of ON during the fourth quarter valued at approximately $425,000. Institutional investors and hedge funds own 36.39% of the company’s stock.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.